Should Outside Directors Request the Purchase of Independent Director Liability Policies?

Scott N. Godes [formerly] is counsel in Dickstein Shapiro’s Insurance Coverage Practice.

Should outside directors on corporate boards of directors request that the companies’ boards companies purchase Individual Director Liability (IDL) insurance for them?  Generally speaking, IDL insurance is just for outside or independent directors of a company and, depending on the form in which it is written, may offer independent directors additional insurance protection if the corporate policyholder’s insurers were to attempt to deny or rescind coverage under the policyholder’s directors and officers insurance policy.

Read the rest of the post here, at Securities Docket.

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This blog is for informational purposes only. This may be considered attorney advertising in some states. The opinions on this blog do not necessarily reflect those of the author’s law firm and/or the author’s past and/or present clients. By reading it, no attorney-client relationship is formed. If you want legal advice, please retain an attorney licensed in your jurisdiction. The opinions expressed here belong only the individual contributor(s). © All rights reserved. 2009.

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